Tag Archives: crushed

(Bloomberg) — Wall Street traders gearing up for the Federal Reserve decision scrambled to digest a selloff in big tech, the Treasury refunding plans and weaker-than-forecast data. Fresh concerns about regional lenders added to economic concerns that sent bond yields plunging, though banks pared losses as the session progressed. Most Read from Bloomberg The most-influential group in the S&P 500 got hammered on Wednesday after some of its biggest names failed to live up to high expectations… Source link

Energy stocks have been this year’s biggest winners in a bleak year for equities. And Wall Street is betting the sector’s outperformance will persist in the new year. Even as the price of oil pulls back from this year’s highs, energy stocks look poised to charge higher thanks to relatively cheap valuations and earnings expectations that appear to be a bright spot in an otherwise grim outlook for S&P 500 earnings estimates. “The bottom line here is that when you think about the earnings of… Source link

(Bloomberg) — Shopify Inc.’s president appealed to investors to focus on the company’s growing customer base as the stock dropped again Friday to a fresh two-year low. Most Read from Bloomberg The Canadian firm’s shares have plunged 21% since it disclosed first-quarter profit on Thursday morning that fell far short of analysts’ estimates. Shopify is navigating a “rebalancing” in retail that has seen shoppers head back to physical stores now that the Covid-19 crisis is easing,… Source link

Shares of Facebook parent Meta were hammered Thursday, falling 26% after the company revealed that privacy changes Apple made to its iOS platform last year have begun to sink their teeth into the social networking giant’s bottom line. During its Q4 earnings report released Wednesday, Meta CEO Mark Zuckerberg explained that Apple’s App Tracking Transparency feature, or ATT, will cut $10 billion out of Meta’s earnings in 2022. Apps like Snap and Pinterest, however, appear to be fairing better in… Source link

Alphabet Inc.’s Google has crushed almost all its competitors in the world of digital-advertising technology. But one rival is emerging as the best hope to challenge the tech giant—if it manages to keep up its momentum. The Trade Desk Inc., which specializes in helping companies buy online ads across publishers’ websites, has done what others failed at: eating into Google’s share of the market. While Google dominates that area of ad-buying with about 40% of the business, Trade Desk is… Source link

Famed economist Nouriel Roubini argues that retail investors with “fear of missing out” are going to get crushed by investing in Bitcoin during its latest run higher. “We have, like in 2017, hundreds of thousands of retail suckers that are having FOMO (fear of missing out) going into this asset class. And they are going to buy it at peak like it happened in December of 2017 when it was $20,000 and fell to $3,000 by the end of the next year. So, it’s the same phenomenon — just people… Source link

Could you beat the market using social media? (Getty) The 2020 stock market had several distinct phases. And few were as hotly debated — and ultimately as persistent — as the rise of the retail trader. Work from Wall Street firms including Goldman Sachs and Deutsche Bank chronicled the surge in new trading accounts opened in the spring and the areas of the market these new investors were playing in. This trend continued through the year. But at the beginning of 2020, before the pandemic’s… Source link

NEW YORK — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost $1.1 billion in the second quarter, and the Irving, Texas-based oil producer brought in $32.6 billion in revenue, less than half of what it brought in at the same time last year. Chevron Corp. lost $8.27 billion during the quarter, a sharp contrast to the… Source link